Top 10 Most-Valued Firms Gain Rs 2,875 Crore In Market Cap, Led By HDFC Bank, TCS

The stock market has seen a significant rise as the top 10 most-valued firms reported a total increase of Rs 2,875 crore in market capitalization. This upward trend was largely propelled by strong gains from HDFC Bank Ltd. and Tata Consultancy Services Ltd.

Market Overview

The National Stock Exchange's Nifty 50 and the Bombay Stock Exchange's Sensex closed higher for four consecutive sessions, marking their best winning streak in several months.

Individual Firm Performances

On this particular day, HDFC Bank achieved an impressive gain of Rs 23,267 crore, pushing its market capitalization to around Rs 14.2 lakh crore. Similarly, TCS experienced a substantial increase as well, gaining Rs 18,687 crore, thereby raising its market cap to approximately Rs 15.8 lakh crore. Other notable performances included ICICI Bank Ltd. and State Bank of India, which gained Rs 5,072 crore and Rs 4,105 crore, respectively.

Declines Among Other Firms

Conversely, some companies experienced losses in market capitalization. Infosys Ltd. reported a slight decline of Rs 41 crore, bringing its valuation down to Rs 7.85 lakh crore. Furthermore, Bharti Airtel Ltd. saw a significant decrease, losing Rs 21,007 crore, which lowered its market cap to Rs 9.01 lakh crore. Reliance Industries Ltd. also faced a loss of Rs 18,673 crore, bringing its valuation to Rs 17.7 lakh crore. Other companies like ITC Ltd. and Hindustan Unilever Ltd. also reported declines in their market valuations.

Current Market Positioning

Despite these fluctuations, Reliance Industries remains the most valued firm in the market, followed closely by TCS, HDFC Bank, and Airtel. Other firms in the top rankings include ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, ITC, and HCL Technologies.

Recent Trends and Analysis

According to market analysts, the Indian stocks remain structurally positive despite facing near-term risks. This positivity is reflected in the upward momentum observed in the recent trading sessions.

On the closing day, the Nifty 50 ended just slightly higher by 10.30 points, or 0.04%, at a total of 24,467.45. The Sensex likewise closed positively, showing an increase of 110.58 points, or 0.14%, ending at 80,956.33. Over the last four trading sessions, the Nifty 50 and the Sensex have seen gains of 1.39% and 1.45%, respectively.

During the day, both indices peaked higher, with the Nifty hitting 24,573.20 and the Sensex reaching 81,245.39. This was notable since it marked the first time the Sensex reclaimed the 81,000 mark in 29 sessions since October 21. Such winning streaks have not been witnessed since late September and early September for Nifty and Sensex, respectively.

Firms, Market, Gains